The weeks ahead will determine if bitcoin is going to go parabolic before the halving event in May. The price is trying to break the 6-month . The breakout should occur with good weekly to close above the upper diagonal resistance of the . Conditions for a confirmed trend reversal into a bull market –
If it keeps struggling in this channel the 200-week MA and the weekly support at 5.7K might be above to prevent further downside before a new bull market begins.
Not a financial advice and do your own research.
Published at Mon, 13 Jan 2020 03:17:48 +0000